in a vulnerable economy that is dangerous. i think it is more important to make the hard decisions, make your fiscal consolidations back loaded. to kick in gradually over time, think is the right policy for an economy like we have that is still vulnerable. >> talking about the short-term decisionings. can we pay our bills this year? given your view about nothing can happen in two years. >> define pay our bills. >> will the federal government honor our debt this summer? >> that is a question about the debt limit. >> yes. >> i think so. i think the most likely scenario is that a few months from now congress repeats what it just did. there is a lot of huffing and puffing and i think they do another extension. i don't think it is a long-term extension, i think it is a six months or nine months extension. i think the fiscal conservatives try to get some kind of concession on spending in exchange for that. that is not ideal. i think that is probably the most likely scenario. last week i saw urging republican to vote for an increase